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Crypto
Bernstein sees bitcoin at $300,000 by 2029 on weak dollar, ETF tailwinds
Global investment bank Bernstein kept its forecast that bitcoin could reach $300,000 by 2029, citing concerns over a weaker dollar. It said a “debasement trade” could push investors toward scarce assets such as gold and cryptocurrencies as long-term disinflation ends and U.S. debt hits $40 trillion. Bernstein also pointed to larger U.S. Treasury bond buybacks, stronger ETF activity and geopolitical developments supporting bitcoin’s narrative.
Crypto
Bitcoin slips, gold jumps as risk aversion grows ahead of U.S. CPI
Bitcoin slid below $64,000 ahead of the U.S. consumer price index (CPI) release, hitting its lowest level in a week. Gold rose to a nine-week high, signalling renewed demand for safe-haven assets as uncertainty increased. Spot gold climbed to $4,435 an ounce, while inflows into gold ETFs outpaced those into spot bitcoin ETFs. Analysts said bitcoin’s short-term resistance remains below $66,000, with markets watching July U.S. CPI data due on Aug. 12.
Crypto
Bitcoin spot ETFs have far to go despite rebound; June outflows hit record
U.S.-listed bitcoin spot exchange-traded funds posted net inflows for a second straight week, but the rebound remains limited. The past two weeks brought $273.1 million of net inflows, just 3.3 percent of the $8.2 billion that exited over the previous eight weeks. June outflows totalled about $4.5 billion, the largest monthly figure since the products launched in January 2024. Analysts remain divided over whether the move marks a trend shift.
